JONA (dpa-AFX) - Swiss building materials firm Holcim Group (HCMLY.PK, HCMLF.PK) reported Friday weak profit in fiscal 2024 amid decline in net sales, while recurring EBIT and margin increased from last year.
Further, the Board has proposed a dividend increase of 11 percent to 3.10 Swiss francs per share.
Looking ahead, for fiscal 2025, Holcim expects continued profitable growth with over proportional growth in recurring EBIT, further expansion of recurring EBIT margin, and mid-single digit net sales growth in local currency.
Miljan Gutovic, CEO, said, 'The next step in our growth and value creation is on track, with the planned listing of our North American business expected to occur by the end of H1 2025. With a strong outlook across all business segments, we are well positioned for 2025. I am confident we will deliver another year of profitable growth.'
For fiscal 2024, Net income, Group share dropped 4.4 percent to 2.93 billion francs from last year's 3.06 billion francs. Earnings per share were 5.24 francs, down 2.3 percent from 5.37 francs a year ago.
Adjusted earnings per share were 5.70 francs, compared to prior year's 5.42 francs.
Recurring EBIT, however, grew 6.1 percent from last year to 5.05 billion francs, and Recurring EBIT margin improved to 19.1 percent from 17.6 percent a year ago.
Net sales dropped 2.2 percent to 26.41 billion francs from 27.01 billion francs last year. Sales were up 1.3 percent in local currency compared to the prior year, and organic sales growth was 0.2 percent.
In its fourth quarter, recurring EBIT grew 4.4 percent from last year to 1.17 billion francs, and Recurring EBIT margin improved to 18.0 percent from prior year's 16.9 percent, while net sales dropped 1.9 percent to 6.47 billion francs. Net sales rose 1.6 percent in local currency.
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